Analysts debate how long freight rates will remain low

Sep 19, 2023 at 03:10 PM CST
Those who were hoping that freight rates might begin to rebound in August were disappointed — and the disappointment is likely to continue for a few more months. Average dry van spot rates increased slightly in August, up just 0.7% from July numbers, according to DAT Trendlines. Compared with August of 2022, however, dry van rates fell a more dramatic 17.7%. The number of available trucks has continued to grow while the number of loads has not, resulting in a decline of 19.9% in DAT’s load-to-truck ratio. More trucks competing for fewer loads drives rates downward. The average spot rate for dry van was $2.08 per mile in August, according to DAT.

Sep 19, 2023 at 03:10 PM CST

Those who were hoping that freight rates might begin to rebound in August were disappointed — and the disappointment is likely to continue for a few more months.

Average dry van spot rates increased slightly in August, up just 0.7% from July numbers, according to DAT Trendlines. Compared with August of 2022, however, dry van rates fell a more dramatic 17.7%.

The number of available trucks has continued to grow while the number of loads has not, resulting in a decline of 19.9% in DAT’s load-to-truck ratio. More trucks competing for fewer loads drives rates downward. The average spot rate for dry van was $2.08 per mile in August, according to DAT.